MIRA
INFORM REPORT
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Report Date : |
19.06.2007 |
IDENTIFICATION DETAILS
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Name : |
JAMEI CHEN FASHION CO LTD |
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Registered Office : |
1FL, 23, Lane 219, |
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Country : |
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Date of Incorporation : |
April 18, 1988 |
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Com. Reg. No.: |
22869047 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import of garment accessories and fabrics. Design and manufacture of a wide range of fashion-wear for men and
women. Sales and distribution of the products to local market. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Up To US$ 35,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
JAMEI CHEN FASHION CO LTD
1FL, 23, LANE 219,
TEL : 886-2-27517989
FAX : 886-2-27412752
EXECUTIVE SUMMARY
INCORPORATION DATE :
APRIL 18, 1988
REGISTRATION NO. :
22869047
LEGAL FORM :
PRIVATE LIMITED COMPANY
CHIEF EXECUTIVE :
MS. JAMEI CHI-MIN CHEN (CHAIRMAN)
STAFF STRENGTH :
50
CAPITAL :
US$ 331,226
BUSINESS LINE :
MANUFACTURER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
AVERAGE
RECOMM.
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
TWD 33.1150 = US$1 AS OF 2007-6-19
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –
*Company Registration *
====================
License number : 22869047
Date issued : 18 April,
1988
Issuing authority : Ministry of
Economic Affairs (MOEA)
Legal form : Private
Limited Company
*Office & Facilities*
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Size : 340
sq. meters (approx.)
Location : Central
Business District (CBD)
Facilities : Modern
Property status : Rented
Type of building : Commercial
building
Comment : Serves as
office and shop.
*Corporate & Organization Structure*
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A small sized company operated and managed by the owner and family
members.
*Factories, Size & Locations*
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Size : 540 sq.
meters (approx.)
Location :
Facilities : Modern
Type of building : Industrial
building
Property status : Rented
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
SC is not known to host website of its own at present.
For the past two years there is no record of litigation.
*Major Shareholders*
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Shareholders' Name No. of Shares
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Ms. Jamei Chi-min Chen 10,800
Ms. Feng-lin Chen 200
Mr. Wei-chung Chen n/a
Ms. Hui-hua Chen n/a
*COMPANY MANAGEMENT*
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Name Nationality
Job Description Dept. / Division
Ms. Shu-hui Hsu Taiwanese
Manager Administration
Ms. Chun-yi Lin Taiwanese
Manager Purchasing
Ms. Jamei Chi-min Chen Taiwanese
President -
*Key Personnel*
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Ms. Jamei Chi-min Chen
Founder : Co-founder
Resident status :
Work experience : More than 25
years industry experience.
Responsibilities : Handles the
daily operation of the firm including all financials, sales and legal matters.
*Main Products & Services*
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Specializes in the following areas of work :
1. Import of garment accessories and fabrics.
2. Design and manufacture of a wide range of fashion-wear for men and
women.
3. Sales and distribution of the products to local market.
Products : Fabrics
Garment
accessories
Apparel
Evening gowns
Fashion
garments
*Brand*
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Brand Jamei Chen
Brand Jamei Chen Soft
*Payment Terms*
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Sales
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Local : Credit card
Cash
30 - 90 days credit
Purchases
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Local : 30 - 90 days credit
Cash
Import : Letter of Credit (L/C)
Documents against
Acceptance (D/A)
Open account terms with settlement using
Telegraphic Transfer (T/T)
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales to high-fashion
retail shops and department stores.
*Domestic Customers*
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Major local customers include small to medium sized clothing retail
outlets specializing in women clothing.
Note : Mostly targeting up-market fashion outlets.
*Export Markets*
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There is no record of export since the prime focus of the firm's
activity is concentrated on local sales only.
*International Trade Activity*
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Note : There are recorded imports of garments accessories & fabric.
*(Subsidiaries , Joint-ventures & Affiliates)
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Company Name : LIN.E CO
Address : 2Fl, 1-2, Lane 20,
Country :
Relationship : Affiliate
Legal Form : Private Limited Company
Company Type : Importer
Industry : Garments & Accessories
PAYMENT RATING : 3 OBTAINED SCORES : 52
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the payment
pattern of SC based upon our Payment Database, comments from suppliers of SC,
information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
*Bank Details*
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Bank Name : FUBON COMMERCIAL BANK
Branch : Ta-an Dist,
Branch Address : 2Fl B1 Fubon Banking Center 169 Jen Ai Rd Section 4
Ta-an Dist Taipei City 106 (Head Office)
SWIFT Code : This bank does not have a SWIFT Code
Bank Name : HONGKONG & SHANGHAI BANKING CORP
Branch : Hsin-i Dist,
Branch Address : 13-15Fl Int'l Trade Bldg
SWIFT Code : HSBCTWTP
Bank Name : TAIWAN COOPERATIVE BANK
Branch : Chungcheng Dist,
Branch Address :
SWIFT Code : TACBTWTP
As a private limited company with a paid-up capital of less than US$ 6
million, there is no legal requirement according to
*Int´l Trade Activity (Currency:
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Year Imports Exports Total
2004 US$ 500,000.00
n/a US$
500,000.00
2005 US$ 100,000.00
n/a US$
100,000.00
2006 US$ 250,000.00
n/a US$
250,000.00
SC is considered a normally advancing concern with steady customers and good
base to meet its trade engagements. It is considered a credit line up to US$
35,000 appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 2221 Broad
woven fabrics, manmade fibers and silk
Importing 2262 Finish
Man Fiber/Silk Fabric
Importing 2389 Apparel
and accessories
Importing 2399 Fabricated
textile products
Manufacturing 2300 Apparel/Other
Textile Products
Manufacturing 2329 Men's
and boys' clothing
Manufacturing 2339 Women's
and misses' outerwear
Manufacturing 2384 Robes
and dressing gowns
Manufacturing 2389 Apparel
and accessories
Manufacturing 5137 Female/Child Clothing
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Importing 5000 Silk,
inc. yarns & woven fabrics thereof
Importing 6000 Knitted
or crocheted fabrics
Importing 6217 Made-up
clothing access garment etc parts
Manufacturing 4203100090 Articles of apparel
Manufacturing 6104490000 Women's
or girls' dresses of other textile materials, knitted or crocheted
Manufacturing 6110900010 Men's
or boys' sweaters, of other textile fibers, knitted or crocheted, subject to
cotton
restraints
Manufacturing 6110900026 Women's
or girls' sweaters, of other textile fibers, knitted or crocheted, subject to
cotton
restraints
Manufacturing 6110900044 Men's
or boys' vests, other than sweater vests, of other textile fibers, knitted or
crocheted,
subject to cotton restraints
Manufacturing 6110900046 Women's
or girls' vests, other than sweater vests, of other textile fibers, knitted or
crocheted,
subject to cotton restraints
Manufacturing 6110909068 Men's
or boys' pullovers, sweatshirts, and similar articles, of other textile fibers,
knitted
or crocheted, subject to cotton restraints
DETAILED PRODUCT CLASSIFICATION & ACTIVITY
Activity Product/Service
Description
Manufacturing Garments
Manufacturing Men's fashion wear
Manufacturing Men's garments
Manufacturing Women's fashion wear
Manufacturing Women's garments
Trading Apparel
Trading Evening gowns
Trading Men's fashion wear
Trading Women's garments
Trading Women's fashion wear
INTERNATIONAL TRADE : ACTIVITY & MARKETS
Importing from
Importing from
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)